DBRS Assigns Final Rating of A (low) with a Stable Trend to Cenovus New Issue

DBRS has today assigned a final rating of A (low), with a Stable trend, to Cenovus Energy Inc.’s (Cenovus) new debt issuances (the Notes) as listed below:

-- $450 million 3.800% unsecured note, maturing on September 15, 2023
-- $350 million 5.200% unsecured note, maturing on September 15, 2043

The Notes settled on August 15, 2013.

The Notes rank equally with the existing and future unsecured and unsubordinated indebtedness of Cenovus. Net proceeds from the offering will be used to partially fund the redemption of the outstanding $800 million 4.50% Senior Notes due September 2014.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Oil and Gas Industry, which can be found on the DBRS website under Methodologies.